Magna Terra acquires full interest in three Argentina projects

Magna Terra Minerals Inc. has secured full ownership of three exploration projects in Santa Cruz Province, Argentina. The company purchased the Cerro Covadonga, El Meridiano, and La Rosita projects, ending an option agreement with a private individual. This acquisition eliminates outstanding payments amounting to $290,000 and a 2% net smelter royalty on each project.

Magna Terra will transfer $25,000 and issue 1.25 million common shares for full control of the three properties. The shares will be held for four months and one day, pending approval from the TSX Venture Exchange.

Following the acquisition, Magna Terra will manage a portfolio of six projects, covering approximately 79,000 hectares in the Santa Cruz Province. The company plans to explore options to extract value from the portfolio, which may include a spin-off of the projects into a separate entity for listing on a Canadian stock exchange.

Cerro Covadonga, a 2,945-hectare project, is situated 40 kilometers north of AngloGold Ashanti's Cerro Vanguardia gold mine. Initial studies have identified a mineralized area spanning a 3-kilometer strike length. El Meridiano, covering 2,970 hectares and located 37 kilometers northwest of Cerro Vanguardia, comprises 32 historic shallow drill holes totaling 4,698 meters in depth.

La Rosita, a 2,900-hectare project in the southwest corner of the Deseado Massif, near the former Mina Martha and Manantial Espejo silver mines, is the final project Magna Terra has acquired.